Topic: [ANN][TKS]TOKES Platform | Empowering the Cannabis Industry - page 61. (Read 103690 times)

This is all available at http://cannabisrevolution.us/#Team

Could we actually get verifiable profiles,pictures and the backgrounds of the people who are asking for the funding?

Thanks.

1. There is no hard cap on the ICO outside of the 47.5MM units for sale.

2. Your math is essentially correct. There are many variables out of our control, i.e. btc/usd rate and the time at which people purchase tokes in the ICO structure, so we're not trying to raise exactly $5MM. However, given current exchange rate, and in the hypothetical scenario in which we sell out completely on day 1 because of the significant bonus, we would raise 6,333 btc, or roughly $4.6MM. While that is half-million off target, given time value of money and our ability to immediately go to work, it's acceptable. The more likely scenario is that we sell out throughout the campaign, with the majority of investment coming in at the beginning and end of the ICO (based on our observations of other ICOs).

Thank you for replying to my questions. I have a couple more:

1. Is $5 million the total cap for the ICO?

2. Just doing rough maths is not adding up and if you may kindly clear it. This is a hypothetical situation:

You mentioned 50m total supply. 2.5m of which is the dev fund so the total distribution is 47.5m Tokes.

Say if you have a very successful lauch and collect 6849.31 btc (ico objective $5 mn - @ btc = $730 each) on Day 1.

Based on your day 1 price 7500 tokes/btc the total you will have to sell is 51.37m tokes (6849.31*7500) but the total available for distribution is 47.5m.

Am I correct or have i calculated incorrectly? This situation can get far worse if btc price drops to $700.

1. Yes, that is correct.

2. Correct - we'll be paying all bounties, promotional, and marketing rewards out of the founder's share.

3. Unsold TOKES will go into a reserve account with a publicly-released wallet address. The rationale here is two-fold. First, we feel it's important to have this quantity of supply eventually available in the ecosystem, which argues against burning any unsold units. Secondly, project funding dictates that we ultimately sell the remaining units. What we will not do is dump these on the market. If at some point in the future we determine we need to undertake a secondary offering, we would release additional tranches of TOKES via off-market transactions (similar to AMP's secondary sale). It's also very possible, depending on business success, that we identify methods of releasing these into the market via giveaways or strategic alliances. The alliances are particularly appealing because they would enable us to enhance our overall competitiveness, further improve TOKES presence and demand, and recruit additional businesses to spread our message. This is great for every holder of TOKES.

4. We've touched on this briefly before, but I'll summarize here. Due to the nature of our multi-pronged approach, we have flexibility in our capital raise. In order to execute on the Cannabis Revolution terrestrial business, we need to raise approximately $250-$500K in USD-equivalent digital assets. The Tokes Platform, with very little overhead, can be executed with significantly less capital in the neighborhood of $50K. With that said, we have an entire backlog of innovative concepts we'd like to begin true development on following the ICO. For that reason, and because it drastically improves our chances of success, we're targeting a significantly larger capital raise of $5MM.


Thanks for the questions pugilist555.

Would like to clear a few things:

1. Total supply of Tokes ever is 50m.  Of which 2.5m is kept by the dev team?
2. 100,000 tokes bounties is it part of 2.5m retained for growth?
3. What happens to the tokes that are not sold?
4. What is the minimum funding required for project to still go ahead?

Just posted.  Might be making some tweaks to the signatures in the coming hours.

Any bounty campaign sir??? like signature campaign, social network camp etc??

pliss put me thread korea in your topic thanks

https://bitcointalksearch.org/topic/pre-ann-tks-tokes-ico-cannabisrevolutionus-2011-12-2-1691812

I can assure you this was not a purchased account. The email address was updated to reflect our tokesplatform.org domain. My post history has always been sporadic, as it was mostly used for trading alts. We've had some great development on trading platforms over the last 1-2 years, so I didn't comment on here much. My last password change was when BCT had a breach and required everyone to change passwords. Beyond that, my information is freely available on our website, so I'm not trying to hide anything. Check it out at http://cannabisrevolution.us

Trust summary for kov

This user's email address was changed recently.

OP has one year absent, and password changed recently, I think it may the purchased account, be aware guys, many purchased account scams in this year.

There's only one, the way we see it. 


We'll be offline most of the day for the Thanksgiving Holiday here. Hope you all have a fantastic day, and we'll check back in tomorrow.

pliss chek my PM

thanks

so many Cannabis coins now

Thanks for your answer KOV

that clears a few things up.

I see now that the market price of Tokes is not pegged - just retailers who desire protection.

Additionally - buy back supports price and direct dividends in TOKES may be possible after you check legalities (they certainly would be in some jurisdictions).  

Would "Rewards" with INCENT instead of "dividends" with TOKES solve any issues here? Buying INCENT would clearly be an expense to your company and INCENT distributions between INCENT and their clients.

Good luck with the ICO.

I will be in for a few.

These are all valid points, and items we discuss fairly extensively in the white paper.

You're spot-on with respect to the dividends being potentially problematic due to financial regulations. For that reason, we're not considering direct dividend compensation until we can exercise a fully legal avenue to do so. However, that does not prevent us from utilizing a mechanism we're calling the Tokes Repurchase Program, in which we are allocating business profits to make open-market purchases of TOKES in support of the token.

Also for legal purposes, it's really difficult for us to specify an exact amount of profits dedicated to the repurchase. I can tell you that we've internally discussed 25-50% of net operating profits, but it's not something we can commit to steadfastly. Business operating cash flows and working capital requirements will be considered prior to making the open market purchases, but I can assure you that we intend to maximize our support of the platform.

You are correct that company ownership is not included with the purchase of TOKES - like all other digital asset ICOs. Selling ownership would likely be an SEC violation. Investors can expect a similar value proposition to that of other tokens, in that value is derived largely by supply and demand. We'll be driving value on both ends by accumulating supply and driving demand at retailers. The asset pegging mechanism will function similarly to BitUSD and BitShares, in that the peg will be an option asset to be used by the retailers who desire protection in the value of their holdings based on $USD.

We share your sentiment that it's incredibly important to be above-board and function under the letter of the law. It's the reason why we've formatting the ICO in the way that we have. Hope that alleviates some of your concerns...

Just an observation - the description of your value proposition is a bit sketchy.


It might be a good idea to get the legal side of dividends sorted before the ICO starts. In the US where you are based this could be a particularly problematic issue for both Tokes and Token Holders. Different for many countries.

Additionally - some numbers on % split of profits to token holders vs Tokes entity is needed.  Investors need to have some idea of potential value/return. Is Tokes value pegged to USD? If so how can value rise?  So these dividends might be the main focus for any investor.

Equity - assume there is no equity in Tokes entity by token holders - state that clearly if so.

A clear and definitive statement on these by the time of the ICO would certainly help me decide to invest or not.

I believe the surge in cannabis alts is due to Obama legalizing it. I've also observed that drug-related coins like dope, hemp and pot coin have been pumping a lot of late...
Think there is money in it.

No bunties no invest.

Oh my. How many cannabis related projects already just this year? You guys might have very good intention and ideas but $5 million seriously? I think even Incent and Komodo didn't/barely reached that amount. Anyway good luck. I'll still continue to watch and see if there will be more progress in days to come.